DETERMINE, INC.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2019 10-Q, filed Feb 19, 2019. Its latest SEC filing is a EFFECT from Jun 6, 2019.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Sells cloud software that helps businesses manage purchasing, suppliers and contracts, along with implementation and training services.

How Did They Make Money?

Customers pay for cloud-software subscriptions, maintenance and hosting over the contract period; they also buy implementation, enhancements and training, with service revenue tied to work performed or project completion.

FY2018 revenue

Who Were Their Customers?

Businesses in finance, healthcare and manufacturing buy its software. Determine sells mainly through its direct sales team, with partner companies also helping sell.

Did Revenues Turn Into Profits?

No. It lost $9.9M in FY2018.

Operating income, FY2018

−31% of revenue

▲ +12% (Loss) vs FY2017 (−$7.8M, −28%)

Net income, FY2018

−35% of revenue

▲ +5% (Loss) vs FY2017 (−$9.5M, −34%)

Free cash flow, FY2018

−8% of revenue

▼ −31% (Loss) vs FY2017 (−$3.4M, −12%)

How Were They Changing?

Since the FY2018 annual report

Latest quarter: Q3 FY2019, the three months to Dec 31, 2018

Revenue: ▼ −20%; vs $7.5M in Q3 FY2018
Net income: ▲ +28% (Loss); vs −$2.3M in Q3 FY2018

May 28, 2019 Adopted a plan to wind up and liquidate the company The plan says the company will cease further business activities and distribute remaining assets after providing for claims and obligations.
Apr 18, 2019 The president and CEO resigned as the company prepared to wind up Patrick Stakenas resigned as president and CEO; John Nolan was appointed to handle the dissolution and winding up.
Apr 10, 2019 Sold substantially all assets to Corcentric The buyer assumed certain related liabilities and paid $32,000,000 in cash, subject to a working-capital adjustment.
Dec 17, 2018 Said Nasdaq trading would be suspended and shares could be delisted The company said it would not appeal and expected trading suspension, followed by delisting.

Grew. Revenue grew 35% in 3 years, from $20.9M in FY2015 to $28.1M in FY2018, about 10% a year.

Who Did They Compete With?

Competes with SAP, Apttus, Coupa, Ivalua, and Jaegger

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